INVESTING JUST TO LOSE
I am a simple hardworking Zambian who decided to invest in cattle ranching 7 years ago with about 50 Brahman heifers and 13 local breeds. For 5 years I have managed the breeding of my investment to almost triple the number and decided go in to meat selling and production.
Two years ago I opened up two outlets one Kaunda Square and another in Mtendere, employing 6 staff with an initial k150,000 capital injection and a k200,000 bank loan at a k25,000 monthly installment paybacks plus a k15,000 rental, taxes and salaries pack.
At inception the business seemed lucrative. I managed to meet my obligations until a year back the business started going in to a nosedive. Had to cut of staff and bank repayment are stalling as the sale have decreased by 70%
With the current happenings at the Kariba dam that has made Zesco to initiate power load shedding, I was hit badly as I have lost three freezers due to electricy surges damaging the compressors and lost two Gensets that have blown up due to overrunning.
To add salt to the wound, two carcasses, over 100 chickens and other meat products worth over K70,000 went to waste in the last fortnight and had to be disposed off. Repair and replacement costs of equipment will come to over K30,000.
How can I overcome situation honestly? Can’t make any claims or comfort myself that it was the “hand of God” it’s time to pack up and await for my fate with the bank.
SOS Lusaka
